Mutual of America Capital Management LLC lessened its position in Comerica Incorporated (NYSE:CMA – Get Rating) by 0.7% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 31,730 shares of the financial services provider’s stock after selling 213 shares during the period. Mutual of America Capital Management LLC’s holdings in Comerica were worth $2,328,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently bought and sold shares of CMA. Daiwa Securities Group Inc. raised its holdings in Comerica by 19.3% in the 1st quarter. Daiwa Securities Group Inc. now owns 1,454 shares of the financial services provider’s stock worth $131,000 after acquiring an additional 235 shares during the period. SG Americas Securities LLC increased its holdings in shares of Comerica by 391.8% during the 1st quarter. SG Americas Securities LLC now owns 10,435 shares of the financial services provider’s stock worth $944,000 after purchasing an additional 8,313 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Comerica by 3.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 159,746 shares of the financial services provider’s stock worth $14,446,000 after purchasing an additional 5,799 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Comerica by 13.2% during the 1st quarter. Victory Capital Management Inc. now owns 1,739,716 shares of the financial services provider’s stock worth $152,403,000 after purchasing an additional 202,788 shares during the period. Finally, Clearstead Advisors LLC increased its holdings in shares of Comerica by 16.6% during the 1st quarter. Clearstead Advisors LLC now owns 6,644 shares of the financial services provider’s stock worth $601,000 after purchasing an additional 947 shares during the period. Institutional investors own 82.56% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on CMA. StockNews.com began coverage on shares of Comerica in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Piper Sandler dropped their price objective on shares of Comerica to $85.00 in a report on Thursday, October 20th. Argus upgraded shares of Comerica from a “hold” rating to a “buy” rating and set a $87.00 price objective on the stock in a report on Thursday, October 20th. Citigroup dropped their price objective on shares of Comerica from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, October 6th. Finally, Stephens dropped their price objective on shares of Comerica from $100.00 to $93.00 and set an “overweight” rating on the stock in a report on Thursday, October 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $90.38.
Comerica Price Performance
Comerica (NYSE:CMA – Get Rating) last released its quarterly earnings results on Wednesday, October 19th. The financial services provider reported $2.60 EPS for the quarter, beating analysts’ consensus estimates of $2.57 by $0.03. Comerica had a net margin of 30.73% and a return on equity of 16.56%. During the same period last year, the firm earned $1.90 EPS. On average, equities analysts anticipate that Comerica Incorporated will post 8.53 EPS for the current fiscal year.
Comerica Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Sunday, January 1st. Shareholders of record on Thursday, December 15th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date is Wednesday, December 14th. Comerica’s dividend payout ratio is presently 36.03%.
Comerica, Inc engages in the provision of financial services. It operates through the following segments: Commercial Bank, Retail Bank, Wealth Management, Finance, and Other. The Commercial Bank segment meets the needs of small and middle market businesses, multinational corporations and governmental entities by offering various products and services, including commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services.
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